7 unchanged sentences
Assuming facilities under the Credit Agreement are fully drawn, each one-eighth percentage point increase or decrease in the applicable interest rates would correspondingly change our interest expense on our outstanding borrowings under the Credit Agreement by approximately $4.1 million per year before considering the impact of derivative instruments.
−Removed: We have interest rate swap contracts with a total notional value of $1.8 billion to hedge future interest rate exposures on variable rate debt, including the Revolving Credit Facility and Term Loan.
+Added: We have interest rate swap contracts with a total notional value of $1.6 billion to hedge future interest rate exposures on variable rate debt, including the Revolving Credit Facility and Term Loans.
Foreign Currency Exchange Risk
5 unchanged sentences
We have entered into foreign currency forward contracts to manage our exposures on foreign currency denominated firm commitments and forecasted foreign currency denominated intercompany and third-party transactions.
−Removed: We had forward contracts outstanding with a total notional amount of $1.4 billion as of December 29, 2024, with maturity dates through November 2025.
+Added: We had forward contracts outstanding with a total notional amount of $1.9 billion as of December 28, 2025, with maturity dates through December 2026.
A sensitivity to changes in the value of the U.S.
dollar on foreign currency denominated derivatives and investments indicated that if the U.S.
−Removed: dollar uniformly weakened by 10% against all currency exposures of the Company at December 29, 2024, (Loss) income before income taxes would have increased by approximately $7.1 million in fiscal year ended 2024.
−Removed: Because the Company was in a net long (receivable) position relative to its major foreign currencies after consideration of forward contracts, a uniform weakening of the U.S.
−Removed: dollar will yield the largest overall potential net gain in earnings due to exchange.
+Added: dollar uniformly weakened by 10% against all currency exposures of the Company at December 28, 2025, Loss before income taxes would have increased by approximately $8.1 million in fiscal year ended 2025.
+Added: Because the Company was in a net short (payable) position relative to its major foreign currencies after consideration of forward contracts, a uniform weakening of the U.S.
+Added: dollar will yield the largest overall potential net loss in earnings due to exchange.
This measurement assumes that a change in one foreign currency relative to the U.S.
6 unchanged sentences
The use of derivative instruments exposes us to credit risk if the counterparty fails to perform when the fair value of a derivative instrument contract is positive.
−Removed: If the counterparty fails to perform, collateral is not required by any party whether derivatives
−Removed: are in an asset or liability position.
+Added: If the counterparty fails to perform, collateral is not required by any party whether derivatives are in an asset or liability position.
We have a policy of diversifying derivatives with counterparties to mitigate the overall risk of counterparty defaults.
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.